DOVER — The Wall Street Journal, News Corp announced it is looking into possibly selling its Dow Jones Local Media Group, which owns community newspapers mainly on the East Coast, formerly known as the Ottaway community newspapers, according to news reports Tuesday.

“News Corp. acquired the Ottaway papers and renamed the group when it bought Dow Jones & Co., publisher of The Wall Street Journal, in 2007,” the Mail Tribune reported. “It tried briefly to sell the papers at that time but pulled the papers off the market in 2008.”

Founded in 1936 by James H. Ottaway Sr., the company today owns eight daily newspapers and their websites in California, Maine, Massachusetts, New Hampshire, New York, Oregon and Pennsylvania, according to the report.

Seacoast Media Group, based in Portsmouth is part of the Dow Jones group of newspapers. Known as SMG, the company publishes the daily newspaper, the Portsmouth Herald, and the weekly newspapers, Exeter News Letter, Hampton Union, York County Coast Star, York Weekly and Spotlight, an arts and entertainment magazine.

There are currently significant changes in two other daily newspapers in the state as adaptations to the economy and the way news is provided continues to evolve.

The Telegraph of Nashua recently announced it was for sale. No formal announcement has been made but Foster's has learned a possible buyer is Ogden Newspapers, Inc., a respected, family owned, diversified media corporation. According to its website, Ogden publishes 40 daily newspapers, several magazines, weekly newspapers and shoppers located in 12 states from Florida to upstate New York and as far west as Maui, Hawaii. The company has been headquartered in Wheeling, W.Va., since Sept. 22, 1890.

Nashua publisher Terrence Williams noted, as of this date, no sale had taken place and it would be inappropriate for him to make any other comment. He did emphasize his employees would be the first to know of any formal sale.

In addition, Joe McQuaid, president and publisher of the state's largest newspaper, the Union Leader, recently announced they will outsource the printing of the newspaper, as well as the inserting process for advertising fliers, to another New Hampshire-based company. The change will affect 35 full-time personnel and some part-time workers, according to a press release issued near the end of March.

Regarding the Dow Jones announcement, The Mail Tribune said employees received an email on Tuesday from Dow Jones Local Media Group's executive chairman, Patrick Purcell and its chief operating officer William Kennedy. The email said the sale of the newspapers was “likely.”

“We are letting you know today,” the pair wrote, “that Dow Jones is currently engaged in a process that will likely result in the sale of LMG and its assets.”

The email said publishers will schedule meetings at the newspapers today to discuss the development with staff, according to the Mail Tribune, which also reported that there “is no timetable for such a sale or details to share on potential buyers ...”

The Wall Street Journal reports the average daily circulation of the company to be more than 188,000 and its Sunday circulation to be more than 238,000.

News Corp has hired the New York-based investment bank, Waller Capital, to “shop the papers,” The Wall Street Journal reported, hoping to sell the papers, “before the company spins off its publishing assets into a separate company this summer.”

The Wall Street Journal reports that newspaper industry observers believe Warren Buffet's Berkshire Hathaway could be a potential buyer. However, Foster's has learned through a newspaper industry insider it is not expected that Buffet will buy the company.

“I imagine the entire Ottaway group will bring a price of between $150 and $200 million … It is also possible that a new buyer will spin off some of the Ottaway properties either before or shortly after the deal closes. This is a deal that has been in the works for a long time,” said the source who told Foster's he felt it inappropriate to be identified at this time.

SMG publisher John Tabor told Foster's he would have to defer any comment to representatives of the Dow Jones group.

Another potential buyer, according to The Wall Street Journal, is the Halifax Media Group, who purchased The New York Times Co.'s regional newspapers last year.

The Wall Street Journal reports that News Corp.'s decision comes after major metropolitan dailies also hit the market. The New York Times Co. recently put the Boston Globe up for sale, while Tribune Co. is exploring the sale of its newspapers, including the Los Angeles Times and the Chicago Tribune.Staff writer Michelle Kingston contributed to this report.